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Oct 19, 2012 7:00pm EDT
china the right solution? darren gersh reports. >> reporter: if the u.s. and china had facebook accounts, their relationship status would be "it's complicated." there's agreement and disagreement on national security and economics. the u.s. pushes on human rights. the chinese push back demanding mutual respect. economist john silvia says it's all too complex to manage by ultimatum. >> it's a relationship of constant negotiation. much like many of us do with a marriage. it's not i have to win today. i win tomorrow. it's one of i compromise, i learn what you want. and we work forward over time. it's a long term negotiating process because we are going to be with china for at least the next 50 to 100 years. >> reporter: there is a reason presidential candidates talk tougher on china than sitting u.s. presidents. a trade fight between the world's two largest economies could weaken confidence in the global economy. >> there is the danger of a spiraling trade war that was never intended, by anybody on the u.s. side or on the chinese side, but just like a regular war, things can spiral
Oct 2, 2012 7:00pm EDT
change for the s&p; it's up about a point. >> reporter: i'm darren gersh. still ahead, both mitt romney and barack obama want to put more americans back to work. but is job training the right answer? we'll take a look. >> tom: six months before the credit crunch hit full force, j.p. morgan bought failing investment bank bear stearns. that was in 2007. now, j.p. morgan faces a lawsuit, claiming it inherited massive fraud on the part of the company it purchased. the civil lawsuit alleges systemic fraud with the packaging and sale of mortgage- backed securities by bear stearns before it was taken over by j.p. morgan. the bank says it intends to fight the case. eric schneiderman is the attorney general of new york. >> eric, you represent the people of new york state. what did your citizens lose in the deals thaw are accused of being fraudulent? >> new yorkers, like people all over the united states bought shares in mortgage backed securities, pension funds invested in them. people bought homes baseed on what they thought was the realistic value of the housing market. we've learned th
Oct 18, 2012 1:00am PDT
chief darren gersh joins us. so, darren, romney floated a new idea last night, capping tax deductions at $25,000 while cutting tack rate for all wage earners. doesn't add to the deficit according to the governor. does it add up, though? >> tom you'll be shocked, shocked to hear that right now it doesn't. we don't have enough details. here's what we know. so the governor has proposed about $5 trillion in tax cuts. that 25,000 cap he talked about on itemized deductions, according to the tax policy center, would raise about $1.3 trillion. so you have a hole of 3.7 trillion, and we don't know how governor romney would fill that. >> tom: we also haven't heard much on housing from either candidate except for the reference to mortgage tax deductions. housing has been absent from the two debates so far. >> that's kind a surprise especially considering that the swing state of florida, which you're in, housing is critical, right, a lot of people are under water on their mortgages. but i think one reason for that is that solving housing and trying to really address it is very difficult and very
Oct 12, 2012 6:30pm EDT
for attention with a record flood of political ads. darren gersh takes a look at how the two mix. >> hard for those who need a job, hard for those who have a job. >> reporter: when the nation is focused on a big issue, retailers know they have to respond when crafting a marketing message. and this year, the focus of the nation and the election is the economy. >> it affects the messages we send. to the extent the economy is such a hot button issue with the election. you know, you're going to hear us talking about savings. we're going to hear walmart talking about layaways. you're going to hear geico talking about saving 15%. >> reporter: matt williams is general manager at the martin agency, the firm that dreamed up the geico gecko. willams is advising clients not to wait for election day to launch their national ad campaigns for the holiday. but that doesn't mean holiday campaigns won't struggle to be heard above all the political noise. >> we're planning for holiday promotions six to nine months out. so it's a very intensive, long lead time kind of planning process and it's alwa
Oct 30, 2012 7:00pm PDT
deal with. darren gersh looks at the potential impact on a key swing states. >> reporter: fears that super-storm sandy would disrupt voting and the presidential election are receding as the storm heads north and away from the united states. the storm hit new jersey hard, but the state makes it easy to vote early by mail, and that makes it unlikely the storm will keep many from sending in their ballots. new york does not offer early voting, giving officials there time to recover by election day. in the key swing state of virginia, election offices in 55 counties were up and running today. just nine remain closed and those are expected to reopen soon. the virginia secretary of state has asked local election officials to extend absentee voting hours through saturday. sandy has not disrupted early voting in ohio, a state expected to prove decisive in the election. but if you need a daily fix of polling data, you are in for a letdown. millions of voters along the mid-atlantic and northeast are in cleanup and recovery mode, and pollsters know the last thing they'll be thinking about i
Oct 26, 2012 6:30pm PDT
, dupont, xerox, proctor and gamble, dow chemical, and ford announced new rounds of layoffs. darren gersh looks at why corporate america is issuing thousands of those pink slips. >> reporter: oking at all the big companies that have announced layoffs recently, you might be worried the job market in headinatsouth fast. high-profile publicly traded companies get headlines when they let workers go. but the companies traded on stock exchanges only account for about a quarter of u.s. employment. >> some of what's going on there could reflect the fact that global growth has been slower the past couple quarters and that may be feeding in to the hiring activity of large multinational corporations. >> reporter: the firm international strategy and investment estimates foreign earnings of u.s. coanies area off 17% from their peak last year.y but u.s. companies focused on services and manufacturing here at home, are doing pretty well. that relative strength is showing up in new claims for unemployment benefits which are not signaling concern. >> if youhink of two sides of the sort of labor market equation
Oct 23, 2012 7:00pm EDT
: darren gersh is our washington, d.c., bureau chief. >> well, i have to tell you, the defense industry was really excited about this. the ceo of the aerospace industry association had a conference with reporters and said she left out of her chair with joy when she heard this noise. they're very excite body t. the white house was spending time walking this back saying that basically the president didn't say anything new. the sequester was never intended actually to take effect. that's what the president meant when he said we'll find a way to get past this. what i am hearing from people in washington and familiar with what's going on is that there's more optimism about reaching a deal. wannot huge optimism, but more than there was before. >> tom: every journey starts with a step forward. what conditions has the president put out there publicly in order to avoid a fiscal cliff and get support? >> it seems pretty clear that the president is insisting that the debt limit be extended and raised so that we don't have another one of these cliff hanger decisions about whether or not the u.s. is
Oct 31, 2012 7:00pm EDT
re-opening but getting the northeast moving again faces a long road ahead. darren gersh reports. >> reporter: at sandy's peak, flooding covered the runways at new york's laguardia airport. as the waters recede, f.a.a. technicians are repairing landing lights and navigational systems. and airlines hope they will be able to offer limited service at laguardia tomorrow. in washington, boston, newark, and new york's john f. kennedy, airport operations are returning to normal. flightaware estimates 2,800 flights were canceled today, down from a peak of almost 8,000 on monday. tomorrow, 530 flights have been officially scrapped, but that will grow, if as seems likely, laguardia has trouble opening tomorrow. add it up and airlines took a big hit from sandy. >> you can multiply 18,000 canceled flights by a few tens of thousands of dollars in revenue per flight and you're well north of $100 million in lost revenue. some of it they will be able to recover by flying flights more full over the next week, but a lot of it is gone. >> reporter: if it rolls on the ground, recovery will take long
Oct 24, 2012 4:30pm PDT
financial markets pose "sigfica risk." as darren gersh reports, the fed wants to keep a low profile for the next few weeks. >> reporter: less than two weeks before the election, the federal reserve was clearly not looking to make big changes in its policy statement. so what we got were slight course corrections today. on inflation, for example, the fed said inflation picked up somewhat from september, because of higher energy prices, but that trend may already be in the rear view mirror. >> if anything, core inflation as bn cong in low er the past three months. the core c.p.i. increased only 0.1% over july, august, and september, pushing it further below their 2% target, i think that might be more significant for them than the fact that energy prices rose in a transitory way over the summer. >> reporter: we won't know for a few more weeks what the fed talked about at today's meeting, but it's a good bet chairman ben bernanke and his colleagues are trying to figure out what to do at their december meeting. that's just before a bond-buying program cled operation twist expires. it's go
Oct 11, 2012 7:00pm EDT
glimpse of the political and policy debates you may be seeing four years from now. darren gersh, nbr, washington. >> susie: a big focus in tonight's debate-- jobs. and today, some encouraging news on the jobs front. a big drop in the number of new claims for jobless benefits, down 30,000 to 339,000 new claims. still, on wall street, stocks struggled to gain ground-- the dow fell 18 points, the nasdaq lost two points, but the s&p rose a fraction. one stock getting a lot of buzz here on wall street today-- sprint. its shares surged almost 15% after the mobile carrier said it was in talks with japan's softbank. those negotiations could lead to the japanese tech giant taking a major stake in sprint. sprint may have a savior-- it could use help and money from softbank. sprint has been struggling for seven years-- a disastrous merger with nextel, and an expensive tab to modernize its wireless network. but sprint insisted today its talks with softbank are in the early stages. "although there can be no assurances that these discussions will result in any transaction or on what terms any tran
Oct 26, 2012 6:30pm EDT
. darren gersh, "n.b.r.," washington. >> tom: wall street wrapped up the week with a see-saw session of trading, as that better than pe pogrowh rertco outweighed sour earnings reports, just enough. t nasdaq gained nearly two points, the s&p fell one point. for the week, all of the major averages lost ground, again. the dow was down the most, off 1.8%, on the week. >> reporter: i'm diane eastabrook in chicago where hundreds of consumers have turned out for $15,000 housing grants. i'll have details coming up. >> susie: businesses and homeowners are bracing for hurricane sandy, as the storm heads for the northeast. it's being called "franken- storm," and with heavy rains expected, it's on track to be one of the costliest storms in history. sandy has soaked florida's east coast, and is expected in the new jersey, new york area by monday. in the path of the storm: several of the nation's biggest cities, travel hubs and several major gasoline refineries along the new jersey and delaware coasts. financial centers like the nasdaq and new york stock exchange, say they'll have contingency plans i
Oct 4, 2012 7:00pm EDT
americans the truth about what president obama calls romney's $5 trillion tax plan. darren gersh, tonight, looks at what the real impact of the romney tax plan could be on the american economy. >> reporter: here's where the president gets that $5 trillion number he used again today. governor romney's plan to cut tax rates by 20% would add up to about $5 trillion over ten years, assuming no other changes. but governor romney is planning to make other changes by eliminating tax deductions worth about the same amount. but the president is accurate when he says governor romney is making many promises in his tax plan. romney says upper-income people will not get a net tax cut; middle-income people will not see their taxes go up; incentives for savings and investment won't be touched; the estate tax and alternative minimum tax will be eliminated-- all this while cutting tax rates and not changing the amount of money the federal government brings in. an analysis by the tax policy center shows governor romney will have to make some big tradeoffs. >> so, governor romney has made five promises. he
Oct 3, 2012 4:30pm PDT
to widen his lead in the polls. to do it, they're each using their own sets of numbers. darren gersh breaks them down, and tells you what you need to know about them. >> reporter: for challenger mitt romney, tonight's debate is his best chancto sell hielf to voters who are still undecided. and one way to do that is to focus less on facts and aggressive debate tactics and worry more about coming across as someone voters can be comfortable with. >> i would tell him, don't think too much. be yourself. if you're yourself, you will come off as authentic. authentic is more important than anything else. >> reporter: still, a few numbers might help. starting with $16 trillion, that's the current level of the national debt on president obama's watch. on top of that, president's latest budget would admore than $6 trillion to the debt over the coming decade. >> the interest on that debt alone is going to cost taxpayers, cost the middle class taxpayer about $1,400 a year just to service the debt. >> reporter: in the debate tonight, the president will keep reminding voters to compare where the economy i
Oct 8, 2012 7:00pm PDT
thousands of workers in the united states. but, as darren gersh reports, there is growing bipartisan agreement that this is the right time to get tough on chinese cyber-theft. >> reporter: in unusually blunt language the bipartisan leadership of the house committee warned u.s. companies not to buy their broadband networking equipment from z.t.e. and huawei. >> our advice to the private sector is this: your obligation is to consider larger data protection and national security implications of your business decisions and we would not advise doing business with these two companies. >> reporter: washington has become increasingly alarmed by cyber-security threats believed to have been launched from china. cyber theft of american trade secrets is estimated to cost hundreds of billions of dollars a year. >> if huawei wants to do business in the united states, then they've got to tell their government to stop cyber attacking the united states. >> reporter: huawei aggressively pushed back. the company says the intelligence committee provided no clear evidence of wrong doing and it dismissed
Search Results 0 to 49 of about 87 (some duplicates have been removed)